Panache Digilife : Press Release

November 2, 2022

To,

Manager - Listing Department,

National Stock Exchange of India Limited

Exchange Plaza, Plot No. C-1,

G Block, Bandra Kurla Complex,

Bandra East, Mumbai - 400 051

Subject: Panache Digilife receives approval for New Telecom Products under Telecom Production Linked Incentive (PLI) Scheme by Ministry of Communications

NSE Symbol - PANACHE

Dear Sir/ Madam,

We are pleased to inform that Panache Digilife Limited has received approval for New Telecom Products under Telecom Production Linked Incentive (PLI) Scheme by Ministry of Communications.

A detailed Press Release in this regard is enclosed herewith which is self-explanatory.

This is for your kind perusal and members information. Please take the same on your record and acknowledge the receipt.

Thanking you,

Yours Faithfully,

For Panache Digilife Limited

________________________

Harshil Chheda

Company Secretary & Compliance Officer

Place: Mumbai

Encl.: As above

Panache DigiLife Limited has received approval forNew Telecom Products under Telecom Production Linked Incentive (PLI) Scheme by Ministry of Communications.

Mumbai, November 2, 2022:Panache DigiLife Limited ("Panache") is pleased to inform our esteemed stakeholders about the approval of addition of products under the Telecom - Production Linked Incentive (PLI) (Scheme for Telecom and Networking Products) by the Ministry of Communications.

The company has received an approval for manufacture of new Telecom products like Optical Transport Network (OTN), Packet Transport Network (PTN) / Multi-Protocol Label Switching (MPLS), Gigabit Passive Optical Networks (GPON) / Next Generation-Passive Optical Network (NG-PON), Optical Line Terminal (OLT), Telecom Antenna, 5G RAN Base Station & Core Equipment, Edge and Enterprise Equipment, Open- RAN Equipment (Radio Unit, Distributed Unit, Centralised Unit and RAN Intelligent Controller), Unified Communications Platforms, Soft Switch, GPON Optical Network Terminal (ONT), Wireless Fidelity (Wi-Fi) Access Point and Controller, LTE CPE, 5G CPE, Short Range Devices and Associated Electronics in new technologies like 4G/5G/ Fibre To The Home (FTTH) etc., Internet Set Top Box, NG-PON-ONT, Telecom modules of IOT/M2M Access Devices, Switches, Routers and Internet Protocol (IP) and Packet Switching and Routing Apparatus under the Telecom PLI Scheme.

The scheme is effective from 1st April, 2022. Investment made by successful applicants in India from 1st April, 2022 onwards and up to FY 2025-26 shall be eligible, subject to qualifying incremental annual thresholds. The support under the Scheme shall be provided for a period of five (5) years, i.e., from FY 2022-23 to FY 2026-27.

All other terms and conditions as stated in the original scheme shall remain applicable.

Panache Overview

Panache DigiLife Limited is an NSE-listed company (NSE Code: PANACHE). Panache is a leader in the new-age AI & IOT technology solutions with a vision to align & utilize the 'Make in India' and 'Atmanirbhar' policy of the Government of India in the ICT & IOT Electronics domain. Panache offers solutions around Smart Computing Devices, Smart & AI based Digital Classrooms, Smart

Asset Management, Retail IoT, Healthy Living Solutions, AV Display and Pen Display Solutions and other contract manufacturing OEM/ODM. Panache is an ICT & IoT devices design, manufacturing, distribution & services company with a vision of 'Making Human Life Easy' by way of constantly innovating in the space of technology.

Panache Design philosophy for its smart devices is based on A, B, C, D of Technology: 'A' - Artificial Intelligence

'B' - Big Data Analytics

'C' - Connectivity to Cloud

'D' - Devices with we design and manufacture.

Panache is having its state-of-the-art manufacturing facility at Bhiwandi Near Mumbai in Maharashtra, India from where both the domestic and the international markets are served. Accredited with ISO 9001:2015 & 14001:2015, the facility is equipped with enough capacities for Manufacturing of devices in categories including Smart Compute Devices, Smart Education Solutions, OEM & ODM, Smart Asset Management, Retail IoT, Healthy Living Solution, AV, Display

• Pen Display Solutions and other contract manufacturing OEM/ODM. The team specially focuses on TQM, JIT & DFM, which aids in overall fulfilling the ever-increasing demand from its customers.

With a robust design to manufacturing infrastructure in place, strong experienced Management Team, efficient technical team and constant focus on R&D & innovation, Panache has been a first recall to all our reputed clientele across verticals along with being one of the preferred OEM manufacturers for India's largest online retail portal and India's leading Education solution providers for their smart classroom solutions. It is a distributor for Shuttle Inc., Taiwan for Compute Range of Products. Panache has been recently conferred upon as Intel's highest Titanium Partner.

Awards & Recognitions

• Selected as Domestic Company in Production Linked Incentive (PLI) Scheme for IT Hardware
• Selected in MSME Category under Production Linked Incentive (PLI) Scheme for Telecom and Networking Products
• EWI Eduresources Award as 7 Star (Max.) rated Company in 2020
• CRN Excellence Award in Big Data & Analytics in 2018
• Intel IoT Group Partner Performance Award in 2017
• Edge Innovation award in 2014 by Information Week, UBM
• Best System Builder award in 2010, 2011, 2012 & 2013 by CRN

• Intel Embedded Hero award in 2012
• SME National Award for Excellence in IT

Panache DigiLife is fully committed to serving the global solution integrators with its in-house developed tailor-made designs and manufacturing services effectively delivered by its OEM / ODM teams. Rich experience in manufacturing helps the company offer significant price advantage along with shorter lead time. Panache assists its ecosystem partners by developing an environment that supports rapid prototyping, harvesting ideas, taking calculated risks and eliminating friction in getting products developed and thereby making the products available in the hands of the users with reduced time and cost, thereby delivering high value proposition to its customers and partners.

For more details, please visit: www.panachedigilife.com

If you have any questions or require further information, please feel free to contact:

Caution Concerning Forward- Looking Statements:

This document includes certain forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors. Panache DigiLife Limited is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether because of new information, future events, or otherwise.